You win some, you lose some! I’m seeing strong trends on a couple of pairs I’m watching and choppy price action on others. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
In my update last week, AUD/USD already hit its 300-pip profit target on a strong downtrend so no new crossovers were made so far.
EUR/USD had a short position open from the other week and this one appears to be on track to hitting its profit target. I hope I didn’t jinx it!
GBP/USD also had a short position open but this one had to be closed when a new crossover formed just before price hit the full 150-pip stop. Soon after, a pullback long signal was generated.
Lastly, EUR/JPY was all over the place as the Japanese yen has been tossing and turning lately. The long position from the previous update had to be closed on a new crossover then a short pullback signal soon followed.
Here’s a summary of the positions as of May 20, 2016:
| SMA Crossover Pullback Positions as of May 20, 2016 | |||||||
|---|---|---|---|---|---|---|---|
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
| EUR/USD | Short | 1.1430 | 1.1580 | 1.1130 | Open | – | – |
| GBP/USD | Short | 1.4465 | 1.4615 | 1.4165 | Closed | -135 | -0.90% |
| EUR/JPY | Long | 124.00 | 122.50 | 127.00 | Open | -40 | -0.27% |
| GBP/USD | Long | 1.4665 | 1.4515 | 1.4965 | Open | – | – |
| EUR/JPY | Short | 123.90 | 125.40 | 120.90 | Open | – | – |
Bahh! Not such a good week for the SMA Crossover Pullback System then! It chalked up a 175-pip loss or a 1.17% dent on the account with the losses on GBP/USD and EUR/JPY. Still, I’m keeping my robot fingers crossed that the open positions and the ongoing trends could make up for this loss later on. Stay tuned for my next updates!